National E-Repository Limited (NERL), a group company of National Commodity and Derivatives Exchange Limited (NCDEX ), has brought in ICICI Bank and HDFC Bank on board as the repository participants for pledge finance.
NERL has signed the agreement with both the banks where they will offer pledge finance against eNWRs created on NERL’s repository platform commodities stored in warehouses registered with Warehousing Development and Regulatory Authority (WDRA). ICICI Bank (also a key shareholder with NERL) and HDFC Bank have now been empanelled as repository participants – pledgee with NERL.
Source- The Hindu
Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
- Chanda Kochhar is the MD & CEO of ICICI Bank.
- ICICI Bank Headquarters in Mumbai.
- HDFC Bank– India’s largest private bank by market capitalization
- HDFC Bank Chairman– Aditya Puri.